M&A Analyst - Internship
About Andercore
Andercore is the AI-native supplier of industrial materials for energy, infrastructure, and construction in wholesale and beyond.
We trade with global suppliers and distribute to European customers on our own account. Our AI runs the full trade and distribution end-to-end: sourcing, quality, pricing, sales, logistics, and embedded financing. For the customer, it feels like buying from their preferred local supplier; for our partners, it is the most convenient and safe way to do business across borders. Behind it, our software and agentic AI do the heavy lifting that used to take an asset-intensive supply chain with four or five intermediaries and weeks of manual coordination.
Where we are today:
Strong triple-digit-million euro turnover
Seven European markets live
80+ people across Berlin (HQ), offices in London, Mumbai, and Shanghai
$40M Series B just closed, $75M raised to date from Atomico, Project A, and Inven Capital, institutional financing from international banks.
We are building the world's first and last industrial-grade AI operating system for materials, redefining how global trade works in one of the largest and most essential industries on earth.
Summary
Reporting directly to the Founder, this internship is focused on driving strategic deal acquisitions, providing hands-on experience across the full deal lifecycle, and offering the opportunity to make a meaningful impact on the company’s growth
Few internships offer this level of direct exposure, responsibility, and performance-based upside. You will not just be observing deals — you will own critical parts of the process, from sourcing and outreach to financial analysis and strategic evaluation, while contributing to real investment decisions.
This role is ideal for ambitious recent graduates or early-career professionals looking to build a career in corporate development, M&A, or strategy in a dynamic, high-growth environment. Fluency in German is a must have due to job day to day requirements.
Responsibilities
Deal Sourcing & Outreach
Research markets and build lists of potential acquisition targets
Assist with outbound outreach (cold calls and emails) to founders and owner-operators
Track outreach and maintain a disciplined pipeline using Salesforce
Support follow-ups and relationship-building with target companies
M&A Support & Analysis
Assist in screening opportunities and preparing materials for deals progressing toward LOI
Support financial modeling, valuation, and strategic fit analysis
Conduct market research, competitive analysis, and basic diligence
Help coordinate internal and external stakeholders as needed
Strategy & Growth
Assist leadership with build-vs-buy analyses and strategic research
Prepare presentation materials and summaries for internal review
Contribute to post-acquisition integration planning and tracking
What Success Looks Like
You help maintain a strong pipeline of acquisition opportunities
Your research and analysis support leadership in making informed decisions
Founder outreach and follow-ups are handled professionally
You will develop a practical understanding of deal origination, learn how founders
respond to acquisition approaches, and see how opportunities move from first contact to LOI and beyond.
You will see first-hand how a fast-paced AI-enabled rollup operates and acquires targets.
Who are you?
MBA candidate interested in search funds, investing or PE
Comfortable with rejection, repetition, and accountability
High-energy, resilience and executor
Strong analytical and research skills
Strong written and verbal communication skills in German and English
Attention to detail and ability to work independently
We are an equal-opportunity employer and welcome applicants from all backgrounds, regardless of race, ethnicity, gender identity or expression, sexual orientation, religion, age, disability, or any other characteristic. We believe that diversity drives innovation, creativity, and collective strength.
